Real Tax Questions, Expert Answers
Get answers to your foreign-owned LLC tax questions from ForeignLLCTax. Every answer includes IRS source citations and step-by-step guidance.
I paid someone on a Chinese marketplace for an ITIN — how do I know if it's real?
About a year ago I paid a service on Taobao around $200 to apply for an ITIN for me. I received what looks like an IRS CP565 letter with a 9-digit number, and I've been using this number on my Form 54...
I'm selling my US rental on a payment plan — can I spread the tax with the installment method?
I'm a non-resident and I'm selling a US rental property to a buyer who'll pay me over five years. Can I use the installment method so I only pay US tax on the gain as the payments come in, instead of ...
I paid a little foreign tax on dividends — do I have to file Form 1116, or can I skip it?
I'm a non-resident who owns a US LLC and also holds some foreign mutual funds. My 1099 shows around $250 of foreign tax withheld on dividends. Do I really have to fill out the whole Form 1116, or is t...
I missed FBARs for several years — do I use the Delinquent FBAR procedures or Streamlined?
I just realized I should have been filing FBARs for my foreign accounts and I'm a few years behind. I keep seeing two different fixes: the 'Delinquent FBAR Submission Procedures' and the 'Streamlined'...
I got a CP2000 for my US LLC — is this a bill I have to pay?
I'm a non-resident who owns a single-member US LLC. The IRS just mailed me a CP2000 saying I underreported income, with a dollar amount at the bottom. Is this a bill? Do I have to pay it right away, o...
I'm a foreign owner with a US rental — when does my estate have to file Form 706-NA?
I'm a non-resident and I own a US rental property directly. Someone told me my heirs could owe US estate tax even though I'm not a US person and don't live there. Is that right, and is there really a ...
Is Stripe Atlas worth $350 over a $100 self-formed Wyoming LLC?
I'm comparing two paths for forming my US LLC as a foreign founder. Path A: Stripe Atlas, $350 first year (via the Mercury partner link) covering Delaware LLC formation, EIN, registered agent. Path B:...
What bookkeeping records does a foreign-owned single-member LLC actually have to keep for Form 5472?
I run a US single-member LLC that's owned by me, a non-resident. It's disregarded for income tax but I file Form 5472 with a pro forma 1120 every year. I keep my bank statements and receipts, but I ke...
I run a one-person foreign-owned LLC — do I really need a transfer pricing study, or is that only for big multinationals?
My US single-member LLC is owned by me, a non-resident, and it does maybe $120K a year. The only related-party items are some money my home-country company invoices the LLC for and an owner advance I ...
Why does YouTube withhold US tax on some of my channel money but Google takes nothing from my AdSense website income?
I run a foreign-owned US single-member LLC for my content business. YouTube withholds US tax on a slice of my channel earnings, but my separate website AdSense payouts come through with zero US withho...
My foreign company (not a US LLC) does business in the US — do I file Form 1120-F or Form 5472?
I run a company incorporated in my home country — it is NOT a US LLC. We've started doing real business in the United States this year. I keep reading about Form 5472 for foreign-owned LLCs, but my en...
Does a missing Form 5472 keep my whole LLC year open under section 6501(c)(8)?
I filed my pro forma Form 1120 for my foreign-owned single-member LLC on time, but I completely forgot to attach Form 5472 for a couple of years. Someone told me the normal three-year audit window doe...
The IRS sent CP6042 asking about our entity information. Is this just a questionnaire, or can it delay refunds and filings?
We received a CP6042 notice tied to our EIN setup, asking for more information about the entity and who is really affiliated with it. Some people on the team want to treat it like a low-priority quest...
I sold property to my brother on a note and he may flip it quickly. Can that pull the gain back into my return sooner?
I am from Italy and sold a small commercial property interest to my brother using an installment note because he could not pay all at once. The gain is significant, around $140,000. I later learned he...
A formation nominee ended up on our EIN application. Can Form 8822-B fix that after the fact?
When our LLC was formed, the service provider used a nominee during setup and that person ended up tied to the EIN application. We now understand that the nominee should never have been treated as the...
Does having no U.S. tax due exempt my foreign-owned single-member LLC from Form 5472 in tax year 2026?
I formed my single-member LLC last year. The business made nothing this year, so I owe no U.S. federal tax. Does that mean I can skip the Form 5472 filing for tax year 2026? I keep seeing conflicting ...
Does owning a U.S. multi-member LLC trigger Form 8865 in 2026?
I'm a U.S. person and I'm a partner in a U.S. LLC taxed as a partnership. Some advisor mentioned Form 8865. Is that the form for our LLC, or am I confused?
Do I automatically need an ITIN in 2026 just because I own a U.S. LLC from outside the country?
I'm a foreign owner of a single-member LLC. Some service providers tell me I need an ITIN immediately. Others say I only need one when I have to file a personal return. What's the actual IRS rule for ...
Does Section 1446 partner withholding apply to my foreign-owned multi-member LLC in 2026?
I have a U.S. multi-member LLC taxed as a partnership. Two of the three partners are foreign. Does Section 1446 withholding apply to us for tax year 2026?
Can I get an EIN for my U.S. LLC in 2026 if I have no SSN or ITIN?
I formed a Wyoming LLC last month and need an EIN to open a Mercury bank account. I'm not a U.S. citizen or resident — no SSN, no ITIN. The IRS online application keeps rejecting me. What's the right ...
We used the wrong depreciation method for years. Is this a Form 1040-X problem or a Form 3115 problem?
Our small business has owned equipment for several years, and we recently realized the depreciation treatment was wrong from the start. One accountant says we should just amend the old returns. Anothe...
When is my Wyoming LLC annual report due in 2026?
My Wyoming LLC was formed February 16. I keep getting confused about whether the annual report is on the formation date, the start of the formation month, or some statewide due date.
Do I still need to file BOI in 2026 if I formed my LLC in a U.S. state?
I keep hearing different things about FinCEN's Beneficial Ownership reporting. I'm a foreign owner of a Wyoming LLC. Court rulings, interim rules — what's the current 2026 rule for U.S.-formed LLCs?
Our joint return showed tax due, not hidden income. Can equitable relief still help if my spouse promised to pay and never did?
I am from South Korea and filed jointly with my spouse when we were still operating a U.S. services business together. The return itself was not inaccurate, but it showed about $41,000 due. My spouse ...
When does my foreign-owned LLC trigger California sales tax nexus in 2026?
We sell physical products to California customers from outside the state. Do we hit California sales tax nexus, and if so, at what threshold?
Can my foreign-owned U.S. LLC trigger an FBAR in 2026 if it opens a bank account abroad?
My U.S. LLC needs a foreign bank account to receive payments in EUR. If I open one and the balance crosses $10,000, does the LLC have to file an FBAR for 2026?
Where do I check whether my country has a U.S. income tax treaty in force for 2026?
Different sources give different answers about whether my country has a U.S. tax treaty. What's the official, primary source I should be checking before claiming a treaty rate?
Our joint refund was taken for my spouse's student loan. Is Form 8379 the right fix or is that only for tax debts?
I am from France and filed a joint return with my spouse. We were expecting about a $6,400 refund, mostly from my wage withholding and our child-related credits. Instead, the entire refund disappeared...
When does my foreign-owned LLC actually have to file Form 1042 for 2026?
I keep seeing Form 1042 mentioned but I can't tell when it actually applies to my LLC. Foreign ownership alone? Or only when we pay foreign people? What's the trigger for 2026?
I just got my first IRS collection letter on a joint return problem. Does that start the two-year Form 8857 clock?
I am originally from India and filed a joint return with my former spouse while we were still together. The balance due was tied mostly to her business income, and I recently received the first IRS co...
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